This report is from today’s TNC’s Daily Open, our international markets update. TNC Daily Open keeps investors informed on everything they need to know, no matter where they are.
Alongside the perplexing calculation his government employed to set the level of tariffs, the 100% tax on films made outside the United States is among the strangest of all the tariff acts announced by U.S. President Donald Trump.
Trump did not provide specifics about the tariff’s operation or if it would be implemented, but the mention of the tax alone caused shares of media and entertainment firms like Netflix and Paramount to decline.
What would the cultural effects of those tariffs be apart from the costs? Would the Best Foreign Film Oscar be eliminated? Does every film have to take place in the United States? Will American actors who appear in foreign films face penalties?
These may seem like crazy worries, but it’s practically impossible to forecast what the US president will do next—Trump is the epitome of a cliffhanger. Trump’s antics may be helpful for viewers, but they are a rotten tomato for everyone else, especially because his presidency seems nearly like a reality TV show.
What To Note Today
S&P 500 Snaps Nine-Day Winning Streak Amid Oil Slide
U.S. stocks dipped Monday, ending the S&P 500’s longest rally since 2004 with a 0.64% drop. The Dow slipped 0.24%, and the Nasdaq fell 0.74%. U.S. crude dropped nearly 2% after OPEC+ announced a production boost. Meanwhile, India’s Nifty 50 edged down 0.4% on Tuesday amid talks of reciprocal tariff cuts with the U.S.
Warren Buffett Sets Succession in Motion at Berkshire Hathaway
Berkshire Hathaway shares slid 4.9% after Warren Buffett revealed Greg Abel would take over as CEO by January 2026. Buffett, who has led the company since 1965 and overseen a staggering 5.5 million % return, will stay on as chairman.
Trump Teases and Backtracks on 100% Foreign Film Tariff
Donald Trump floated a 100% tariff on foreign films before reversing course the next day. He also signed an order to fast-track pharmaceutical plant approvals and hinted at upcoming drug-related tariffs, while minimizing concerns about toy shortages.
Palantir Lifts 2025 Outlook but Shares Slide After Earnings
Despite raising its revenue forecast to nearly $3.9 billion, Palantir stock dropped 9% in after-hours trading following earnings that met expectations. Still, the AI firm will remain at 64% in 2025, outperforming most tech stocks.
Ford Beats Earnings, But Trump Tariffs Cloud Forecast
Ford exceeded Q1 expectations but withdrew its full-year outlook, citing a $2.5 billion hit from Trump’s new tariffs. The automaker plans to absorb $1 billion through cost measures, leaving a projected $1.5 billion impact for 2025. Shares dipped 2.5% after hours.
Chinese Tech ETF May Outshine U.S. Counterparts
Chinese tech stocks are experiencing short-term volatility, but analysts say the long-term trend remains positive. According to Fairlead Strategies’ Katie Stockton, one ETF tracking this sector could outperform overstretched U.S. tech stocks.
Temu and Shein Hit by Steep Tariffs, But Remain in the Game
The end of the de minimis rule has exposed Temu and Shein to hefty U.S. import tariffs, up to 120%. Temu has halted direct China shipments, while prices are rising. Still, experts say both brands have strategies to stay competitive in America’s online retail space.
